Downtown Salt Lake City is the crossroads and capitol of the Intermountain West, and offers opportunities few cities can match. This Economic Profile outlines trends in the downtown economy, including the office, retail, hospitality, residential and cultural sectors of the Central Business District.
Download the Downtown Salt Lake City Economic Profile
| Economic Profile of the Central Business District, 2007-2008 | ||
| Category |
Amount | |
| Employment |
64,950 | |
| Wages Paid |
$2.36 billion | |
| Office Square Footage |
12.7million sq. ft. | |
| Office Vacancy Rate |
6.9% | |
| Retail Sales-2006 |
$555.1 million | |
| Retail Square Footage |
2.1 million sq. ft. | |
| Hotel Rooms (CBD) |
3,000 | |
| Hotel Occupancy |
75.% | |
| Convention Attendee Downtown Room Nights (2006) |
302,500 | |
| Retail Spending by Convention Attendees |
108.5 million | |
| Source: Economic Benchmarks For Salt Lake City’s Central Business District (University of Utah Bureau of Economic and Business Research, April 2008) |
Economic Benchmark Studies
The Central Business District of Salt Lake City experienced over $1.4 billion in capital investment and 24% growth in its employment base during the 1990s. The Economic Benchmark Study quantitatively details this period of prosperity within every major sector of the downtown economy. Summaries of progress in the office, retail, hospitality and government sectors are provided which will serve as baselines for future comparisons.
The Central Business District of Salt Lake City is experiencing a period of unprecedented growth in its history. The 2005 Benchmark update follows the progress, investment, economic, employment and market trends from 2002 to 2005. This builds upon the base 2002 Economic Benchmarks Study.
Download the 2007 Downtown Benchmark Study (28 pages)
Download the 2005 Economic Benchmark Highlights of Change (1 page)
Download the 2005 Economic Benchmark Update (24 pages)
Download the 2002 Economic Benchmark Study (87 pages)
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Demographic Information
Labor and Workforce
Click here for current demographics on labor and workforce information: http://jobs.utah.gov/opencms/wi
Educational Information
Downtown Salt Lake City has always had a strong relationship with higher learning institutions along the Wasatch Front.
The Salt Lake Community College and Eagle Gate College have built downtown satellite locations to better meet the educational needs of Salt Lake City's residents.
The University of Utah and Westminster College are located just a few miles east of downtown Salt Lake City and supply a well-educated workforce for downtown businesses. In addition, Brigham Young University is located sixty miles south of downtown Salt Lake City, and a satellite BYU Salt Lake Center is located in Downtown Salt Lake City.
The new vision for Salt Lake City encompasses ideas large and small, bold and restrained - for shaping downtown's future. 